Takeover Creates Sixth-Largest Bank

First Union Corp. said Tuesday it completed its takeover of First Fidelity Bancorp. of Newark, N.J., creating the nation’s sixth-largest bank in an exchange of stock valued at $5.9 billion.

The combined bank serves more than 11 million customers in 2,000 branches from Connecticut to Florida - a total of 12 states plus Washington, D.C. It has $126 billion in assets.

The region includes 35 percent of the U.S. population and four of the nation’s five highest personal-income areas, said First Union, which will keep its headquarters in Charlotte.

With 2,000 automated teller machines, the bank will have the nation’s third-largest ATM network.

By summer, green-and-white First Union signs will be installed at more than 680 First Fidelity branches in New Jersey, New York, Connecticut, Pennsylvania, Delaware and Maryland.

First Union exchanged 1.35 of its shares for each share of First Fidelity, which had $35.3 billion in assets last June.